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amt, the alternative minimum tax. a fix so that won't hit 20 million more americans. >> that is exactly right. >> chris: let me focus on the tax rates. that has been the biggest issue in the whole debate. the president wants to extend the tax rates on families making less than $250,000 a year. senator graham is that acceptable or does the threshold for when you start to make the bush tax rates go away does it have to be higher? some people said $400,000 and $500,000. how confident are you that the house which refused to set the mark at a million dollars will pass any tax rate increase? >> if democrats will vote for the deal in the house if they are allowed to vote for whatever the senate passes there will be enough republicans but boehner needs a majority of the republican party. in 2010 we extended all of the tax cuts because the economy was weak. we are not going to extend all of the tax cuts but the economy is weaker. i don't understand the economics but i do understand the politics. the president won. the presiden
amt, the alternative minimum tax. a fix so that won't hit 20 million more americans. >> that is exactly right. >> chris: let me focus on the tax rates. that has been the biggest issue in the whole debate. the president wants to extend the tax rates on families making less than $250,000 a year. senator graham is that acceptable or does the threshold for when you start to make the bush tax rates go away does it have to be higher? some people said $400,000 and $500,000. how confident...
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and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real question is in the house of representatives and will it be enough of a compromise, that enough republicans can vote for it, to get through the house? i put that at 50-50. >> chris: byron, the most we can say, or
and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate?...
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individuals that are currently incarcerated in a much more effective way that is going to save you tax dollars but also reduce the chance that they'll continue to spiral into those, like the stories we heard earlier today. [applause] >> if i could add one quick thought that ties with the first panel and this panel. it's the question of resource allocation. the point needs to be taken quite seriously especially with adolescents. if you get the diagnosis and the community is not ready to step up and do the interventions that are more humane, then the inhumane alternatives may end up costing more but being the easy political solution. >> i think we're out of time. i would like to thank everyone on the panel for their time.. >> thank you kindly. as an ex-felon, it's not my first effort with a public defender in public for a bunch of people who i know are working hard to make this substance abuse incarceration cognitive behavior thing work all together. i started doing my career in rehabs and jails and shelters and where i live. it's a privilege to work for people who chose to be the audien
individuals that are currently incarcerated in a much more effective way that is going to save you tax dollars but also reduce the chance that they'll continue to spiral into those, like the stories we heard earlier today. [applause] >> if i could add one quick thought that ties with the first panel and this panel. it's the question of resource allocation. the point needs to be taken quite seriously especially with adolescents. if you get the diagnosis and the community is not ready to...
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on taxes, i know it's hard for the republicans but the president ran on that platform, 250, no tax increase for people below but taxes for people above. 60% of the voters said they were for it in the exit polls, including some republicans and yet our republican colleagues by refusing to go along with revenues are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have to, the american people are going to blame the republican party and they'll come right back and pass something. so i don't think the middle class is at risk. if we go over the cliff, our republicans colleagues will come back and go uh-oh and pass the bill we passed in senate already. >> can check hagel become secretary of defense if he's the republican's nominee? >> a lot of republicans have asked hard questions. i don't think he's going to get many republicans votes. i like chuck but his positions are really out of the mainstream and well to the left of the president. i think it would be a challenging nominations but the hearings will matter. chuck will have a chance to
on taxes, i know it's hard for the republicans but the president ran on that platform, 250, no tax increase for people below but taxes for people above. 60% of the voters said they were for it in the exit polls, including some republicans and yet our republican colleagues by refusing to go along with revenues are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have to, the american people are going to blame the republican party and...
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and corporate tax reform. i mean, i think there's a real opportunity there on reforming the overall code, but dealing with corporate taxes and dealing -- you know, he started to reach out to business leaders over the course of this conversation on the fiscal cliff. i think that's going to be another thing he looks at. >> now, a couple of things you mentioned in there. immigration reform, maybe corporate tax reform. what we saw in the first term, largely, was sort of intractability, that the president proposed things, health care, economic stimulus got three republican votes, one of whom, arlen specter, was no longer -- became a democrat by the time the election happened. are these things post-election things that republicans can get behind? because we just had an election and here we are, you know, a month and a half later, and we're at the same place with the fiscal cliff that i feel like we were six months ago! >> yeah, well, we've been here, done this, but i think it is possible, i think immigration reform,
and corporate tax reform. i mean, i think there's a real opportunity there on reforming the overall code, but dealing with corporate taxes and dealing -- you know, he started to reach out to business leaders over the course of this conversation on the fiscal cliff. i think that's going to be another thing he looks at. >> now, a couple of things you mentioned in there. immigration reform, maybe corporate tax reform. what we saw in the first term, largely, was sort of intractability, that...
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the vast majority you won't see your income taxes go up. you will see payroll taxes go up because they are not going to address that. but in terms of dealing and remember the whole point of the fiscal cliff was to deal with the debt crisis. in terms of that, nothing will have been accomplished. >> and do you think, chris, that anything can be accomplished with the debt crisis? what do they do once you get past tuesday and wednesday we are still staring down that debt. can washington now or five years from now ever really address that debt do you think? >> i don't know. it is interesting. we had on the panel and i really hope people will watch "fox news sunday." interesting and intelligent conversation between lindsey graham and dianne feinstein. not a lot of talking points, a lot of serious conversation between two patriots. we had on the panel senator evan bayh. >> good to see you, happy new year. >> even under these circumstances good to see you and happy new year to you and everybody out there. >> fascinating and serious conversation as
the vast majority you won't see your income taxes go up. you will see payroll taxes go up because they are not going to address that. but in terms of dealing and remember the whole point of the fiscal cliff was to deal with the debt crisis. in terms of that, nothing will have been accomplished. >> and do you think, chris, that anything can be accomplished with the debt crisis? what do they do once you get past tuesday and wednesday we are still staring down that debt. can washington now...
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and the alternative minimum tax. explain how that is going to affect people. >> the alternative minimum tax has a threshold that we have been adjusting over time for inflation. if they don't do something about that by january 1 or something about that retroactively, then many middle-income americans will pay 26 to 28% of their income in taxes. those are the kines of taxes that someone who makes $500,000 a year pay, in terms of average tax. there will be a whopping inexrees in tax burdens. they are going to have that retroactively into 2011 on their income tax return and going forward. tell wreak chaos. the president being persistent that it's my way or the highway, taxes on folks over $250,000 or nothing has put a pistol to the head of the middle class. it has threatened them with financial extortion if he doesn't get his way to satisfy the populist wing of the democratic party. >> all right. estate and gift taxes? >> they're going up. the threshold in the bush years on the estate tax went up from $1 million to about
and the alternative minimum tax. explain how that is going to affect people. >> the alternative minimum tax has a threshold that we have been adjusting over time for inflation. if they don't do something about that by january 1 or something about that retroactively, then many middle-income americans will pay 26 to 28% of their income in taxes. those are the kines of taxes that someone who makes $500,000 a year pay, in terms of average tax. there will be a whopping inexrees in tax burdens....
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details on a brand-new sales tax. and senator libbedy graham has been an outspoken critic of president barack obama for years. but what is he saying today? >> if the president doesn't deal with this, he is a lousy commander in chief. [ male announcer ] how do you measure happiness? by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> you are not only going to cut your way to prosperity. >> we have not seen the leade
details on a brand-new sales tax. and senator libbedy graham has been an outspoken critic of president barack obama for years. but what is he saying today? >> if the president doesn't deal with this, he is a lousy commander in chief. [ male announcer ] how do you measure happiness? by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. time for...
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, they will have a tax cut. i think people have been thinking all along that really if push comes to shove, we'll do it in the new year and that seems to be what's developing. >> it creates an interesting dynamic, you'd have a new congress sworn in on january 3rd and ordinarily everyone goes home, get your picture taken, that's it. you're essentially swearing in a new congress and moving to the floor. that's something we haven't seen in quite a while, i'd say in the modern era. >> one of the odd things on the first day is elect a speaker. the majority party puts up -- this time it would be john boehner. the minority puts up their chosen leader, this time nancy pelosi. it's usually pro forma, but this time it has a real weight to it, because one of the reasons we're in this situation right now is because we're waiting for john boehner to be reelected to speaker of the house before they make a move, because only if 16 or 17 republicans don't vote for the guy, he could lose. they just want to wait. >> that's, i thi
, they will have a tax cut. i think people have been thinking all along that really if push comes to shove, we'll do it in the new year and that seems to be what's developing. >> it creates an interesting dynamic, you'd have a new congress sworn in on january 3rd and ordinarily everyone goes home, get your picture taken, that's it. you're essentially swearing in a new congress and moving to the floor. that's something we haven't seen in quite a while, i'd say in the modern era. >>...
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that is tax cut over 250, it's a tax increase. senator mcconnell may be trying to move that to $400,000. >> arthel: and then the notion of lowering social security payments is definitely off the table in terms of democrats' side? >> it's clear from senator reid said, they are not going to touch social security. but the president has made clear in discussions with speaker boehner, these entitlement programs will be on the table but only if it's a broader debt deal. republicans have different ideas. they want to see more cuts in spending right now. >> arthel: thank you very much. >> gregg: congress is not only facing a fiscal cliff, it's up a dairy clarify, if you will. the current farm bill is set to expire on new year's day. if an extension of that is not passed, the farm policies would revert to laws back to 1949 and cost of milk, that could skyrocket. back then the government used a formula to calculate dairy prices that is much more expensive than it is today. one option said to be on the table is short term extension that woul
that is tax cut over 250, it's a tax increase. senator mcconnell may be trying to move that to $400,000. >> arthel: and then the notion of lowering social security payments is definitely off the table in terms of democrats' side? >> it's clear from senator reid said, they are not going to touch social security. but the president has made clear in discussions with speaker boehner, these entitlement programs will be on the table but only if it's a broader debt deal. republicans have...
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and i can report that we've reached an agreement on all of the tax -- the tax -- issues. we are very, very close, as the president just said. the most important piece, the piece that has to be done now, is preventing the tax hikes. the president said -- quote -- "for now, our most immediate priority is to stop taxes going up for middle-class families starting tomorrow." i agree. he suggested that action on the sequester is something we can continue to work on in the coming months. so i agree. let's pass the tax relief portion now, let's take what's been agreed to and get moving. let me say, this was not easy to get to. i mean, the vice president and i last spoke about -- yesterday about 12:45 this morning and then again at 6:30 this morning and then multiple times this morning. this has been clearly a -- a good-faith negotiation. we all want to protect taxpayers and we can get it done now. right now. so let me be clear, we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place
and i can report that we've reached an agreement on all of the tax -- the tax -- issues. we are very, very close, as the president just said. the most important piece, the piece that has to be done now, is preventing the tax hikes. the president said -- quote -- "for now, our most immediate priority is to stop taxes going up for middle-class families starting tomorrow." i agree. he suggested that action on the sequester is something we can continue to work on in the coming months. so...
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analysts say taxes on people making between 50,000 and $75,000 a year will go up an average of $2400. >> whenever we come up -- whatever we come up is going to be imperfect. some people aren't going to like it, some people will like it less but that's where we are. i feel confident that we have an obligation to do the best we can and that was made very clear in the white house. >> reporter: president obama says it's important for congress to vote on some type of package before the fiscal cliff deadline expires. >> if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an upor -- up or down vote, one that protects the middle class from a hike, extends insurance to 2 million americans looking for a job and lays the groundwork for future cooperation on more economic growth and deficit reduction. >> the current congress only be in session until january 3rd. after that, 13 new senators and 82 new house members will take over and inherit this huge problem, right out of the congressional gate.
analysts say taxes on people making between 50,000 and $75,000 a year will go up an average of $2400. >> whenever we come up -- whatever we come up is going to be imperfect. some people aren't going to like it, some people will like it less but that's where we are. i feel confident that we have an obligation to do the best we can and that was made very clear in the white house. >> reporter: president obama says it's important for congress to vote on some type of package before the...
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the tax-cut measure that they did. nobody making $40,000 a month needs a tax breaks. we discussed the tax thing in an earlier program. the middle class is paying for it. i didn't understand that liberals do not band together stronger and show a united force. it is okay to have obama as the president. if we say the president is caving in, we have power. guest: we have seen 26 straight months of private sector job gains. we have seen losses in the public sector. you can expect that public unemployment problem to get worse. progressives can get behind the president and claimed a win over the republicans. or they can hold out for the progressive principles that they originally wanted. i think in congress a lot of folks will wind up back in the president. host: guestok. good morning, steve. caller: happy new year. everybody is talking about going back to the clinton's tax brackets. do you think that is a good idea? andt: go back to the 1990's everybody did quite well. tic talk. apocalyps it is not all that much debilitating when people tend to save the money rather than sp
the tax-cut measure that they did. nobody making $40,000 a month needs a tax breaks. we discussed the tax thing in an earlier program. the middle class is paying for it. i didn't understand that liberals do not band together stronger and show a united force. it is okay to have obama as the president. if we say the president is caving in, we have power. guest: we have seen 26 straight months of private sector job gains. we have seen losses in the public sector. you can expect that public...
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what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for people. you start to talk about budging a household. for the average family? >> 3500 bucks is the income tax hit. >> above what they're paying. >> and additional 3500 for median income. that goes up dramatically the wealthier you are. tens of thousands of dollars more. you could on the hook for a real hit. >> the argument is the wealthy won't feel it but they won't spend it either. >> that's the point. a lot of those people paying higher taxes own small businesses and will opt not to hire and it will ripple through the economy. >> it hurts when i
what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for...
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an increase in the state tax and capital gains and dividend tax. i will show you more that -- we "the show you more now from th economist" world in 2013 festival. this is 30 minutes. >> our next session is on energy in 2013. we have three panelists. [applause] >> good to see everyone here. thank you for having us. where is energy demand going? i will use part of my time to do that. this is a story that is probably familiar to everyone in the room. the population from 7 billion today to 9 billion in the middle of the century, potentially doubling energy demand. i will tell you the one phrase that caught me. that kind of growth is the equivalent of creating a new city of 1 million people every week for the next 30 years. when you think about the energy consumed by a city of 1 million people, imagine that. the question becomes, how will we supply that level of energy demand around the world? the prediction of where energy is going is an enormous increase. we worked into a lot of interaction with other companies around the intersection between food, wa
an increase in the state tax and capital gains and dividend tax. i will show you more that -- we "the show you more now from th economist" world in 2013 festival. this is 30 minutes. >> our next session is on energy in 2013. we have three panelists. [applause] >> good to see everyone here. thank you for having us. where is energy demand going? i will use part of my time to do that. this is a story that is probably familiar to everyone in the room. the population from 7...
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no tax increases people below, but taxes for people above. he won. 60% of the voters said they were for it in the the exit polls, including some republicans. >> reporter: the president is still vacationing here in hawaii. white house officials are privately making it clear that you heard him last friday before he left the white house, i'll see you next week. if there is not some sort of christmas miracle and some sort of a deal over the next 24 hours very likely we'll see the president get on air force one in the next couple of days, right after christmas and head back to washington to find some sort of solution, kelly. kelly: hopeful people are following his advice and listening to christmas carols, drinking eggnog and talking to constituents. jaime: mistletoe extract could be good for your health. we'll talk about that. can bolt sidecan both sides bridge the gap before it's too rate or does one side want us to go off the fiscal cliff? washington insiders weigh in next. we'll be right back. with the spark miles card from capital one, thor ge
no tax increases people below, but taxes for people above. he won. 60% of the voters said they were for it in the the exit polls, including some republicans. >> reporter: the president is still vacationing here in hawaii. white house officials are privately making it clear that you heard him last friday before he left the white house, i'll see you next week. if there is not some sort of christmas miracle and some sort of a deal over the next 24 hours very likely we'll see the president...
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cut, not a tax increase, because taxes go up january 1st. i think the best way to answer is by telling you what mitch mcdonnell did, the senate republican leader, the point person with the vice president in the past 24 hours in these negotiations. he said, we are so close on almost everything that we should just hold a vote right now. he believes they're there. they have a deal on most of the -- all of the tax issues and most other issues except for one outstanding issue, and that is the sequester, those mandatory spending cuts, how to delay those and in what timetable and in what fashion. democrats simply haven't -- we haven't heard from harry reid yet but privately democrats are saying we're not ready to do that yet because we still don't think we have a deal. mitch mcconnell trying to push things along by saying that publicly, he's fine with voting on all of the things they have agreed on right now. >> dana, let's get back to this procedural issue. the vote in the house presumably tomorrow, but that only follows a vote in the senate. that
cut, not a tax increase, because taxes go up january 1st. i think the best way to answer is by telling you what mitch mcdonnell did, the senate republican leader, the point person with the vice president in the past 24 hours in these negotiations. he said, we are so close on almost everything that we should just hold a vote right now. he believes they're there. they have a deal on most of the -- all of the tax issues and most other issues except for one outstanding issue, and that is the...
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joseph kennedy limited vancouver refused to pay the excise tax. and, you know, people have said, oh, there's the proof, there's the smoking gun. well, i found this kennedy. i looked at the business records and the tax records and the business directories in vancouver, and i discovered that it's david joseph kennedy who lived in vancouver, had been born in vancouver, died in vancouver. not my joe kennedy. so, no, no bootlegging of any sort. here or and then we'll go across. >> could you talk a bit about the relationship between joe kennedy and his son john and to what extent john kennedy knew of his father's relationships with multiple women and whether that influenced him to follow that same path? [laughter] >> yes. [laughter] yes. and i think that there are no kennedys in the audience here, are there? [laughter] i think jack was much more predatory even than his father was. joe kennedy spent his -- joe kennedy and rose had an arrangement much like rose's father had had an arrangement with rose's mother that i don't embarrass you, and i do whateve
joseph kennedy limited vancouver refused to pay the excise tax. and, you know, people have said, oh, there's the proof, there's the smoking gun. well, i found this kennedy. i looked at the business records and the tax records and the business directories in vancouver, and i discovered that it's david joseph kennedy who lived in vancouver, had been born in vancouver, died in vancouver. not my joe kennedy. so, no, no bootlegging of any sort. here or and then we'll go across. >> could you...
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tax group that i run, we want to continue the tax -- lower tax rates for all americans. we want to go to the tax reform that's in the paul ryan budget. the house of representatives has already pass ed twice the ryan budget, which reforms taxes for all americans, takes the top rate to 25%, which is what the europeans do for the business community. we want to go there. how do you get there? i'm not sure that defeating plan b strengthens our ability to get there. i think, in fact, that plan b was a good step in the right direction towards protecting and continuing the tax cuts for everybody. >> and do you think that republicans sort of shot themselves in the foot because they defeated this. at the end of the day, the votes might be there for tax increases that from the republican perspective, are even worse than what the speaker offered that they wouldn't let him even bring up for a vote. >> as i read the speaker's proposal, plan b, i thought it moved us in the direction of maintaining all the bush tax cu cuts. look, this is not a fight that begins and ends the first week o
tax group that i run, we want to continue the tax -- lower tax rates for all americans. we want to go to the tax reform that's in the paul ryan budget. the house of representatives has already pass ed twice the ryan budget, which reforms taxes for all americans, takes the top rate to 25%, which is what the europeans do for the business community. we want to go there. how do you get there? i'm not sure that defeating plan b strengthens our ability to get there. i think, in fact, that plan b was...
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bracket -- tax bracket. i would like to retire someday and to hear that social security and medicare will be affected. we will not have the money to spend on anybody when i retire and these programs will be very adversely affected. host: when the two sides get back to that of for the 113th congress in what people are saying it is round two, senate republicans are saying no debt ceiling increase until president obama and democrats put social security and medicare on the table. what do you think? caller: i do think we should be looking at spending cuts. if we keep in the autumn of programs where they are now, we will not have anything for anyone -- if we keep entitlement programs where they are now, we will not have anything for anyone in a few years. i agree with republicans in that. we do need to protect our country and have the military be the best it can be, but i would say we do not need to give them more money. i think that is one area where i see things differently than our republican colleagues. host:
bracket -- tax bracket. i would like to retire someday and to hear that social security and medicare will be affected. we will not have the money to spend on anybody when i retire and these programs will be very adversely affected. host: when the two sides get back to that of for the 113th congress in what people are saying it is round two, senate republicans are saying no debt ceiling increase until president obama and democrats put social security and medicare on the table. what do you think?...
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tax rates go up on everybody on january the 2nd. everybody in the country will get a tax increase. we are going over the fiscal cliff. it will destroy our military. the first things first, let's avoid going over over the cliff. there is a deal to be had somewhere between 400,000 and 500,000 on rates. let's make sure sure we put it and the deficit. you better hope that democrats and republicans say we are not going to borrow any more money. that means adjusting the age or medicare. means testing for medicare and social security and cpi adjustments for the rate of inflation. that's what i want to raise the debt ceiling. in august 2nd of this past year 2011 we borrowed $2.1 trillion the last time we raised the debt ceiling and we've gone through that money in 17 months. we are burning money up here and it has to stop. uma: some folks are saying, why not just go over the cliff and let the country deal with it as the chips fall on that one, because some believe it's the only way to force president obama and the senate democrats to agree on fundamental tax reform. what do you think about
tax rates go up on everybody on january the 2nd. everybody in the country will get a tax increase. we are going over the fiscal cliff. it will destroy our military. the first things first, let's avoid going over over the cliff. there is a deal to be had somewhere between 400,000 and 500,000 on rates. let's make sure sure we put it and the deficit. you better hope that democrats and republicans say we are not going to borrow any more money. that means adjusting the age or medicare. means testing...
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Dec 25, 2012
12/12
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parker says oakland has already heavily invested in system to tax and regulate dispensaries. >> we laugh a great deal of time and energy and money setting up this system that is consistent with california law. and is a tragic way of the government's resources. >> but others say potash shops never should have been able to open 2349 first place. >> federal law, law of the land or is it law, that's the bottom line. >> carla lowe is citizens against legalization of marijuana. a lobbying group based in sacramento. pot is unsafe and ineffective. not a -- an 'digtive, dangerous drug. >> not a medicine. always been a joke, a cruel hoax, always has been, always will be. f.d.a. will never approved it for any product to be deemed a medicine. >> with the recent legalization of medical marijuana in washington and colorado national leaders are re-examining pot policies. the justice department soon expected to issue a response which now allow adults 21 and old tore possess up to one ounce legally. on capitol hill, senate judiciary chairman patrick leahy called for congressional hearings on the issue an
parker says oakland has already heavily invested in system to tax and regulate dispensaries. >> we laugh a great deal of time and energy and money setting up this system that is consistent with california law. and is a tragic way of the government's resources. >> but others say potash shops never should have been able to open 2349 first place. >> federal law, law of the land or is it law, that's the bottom line. >> carla lowe is citizens against legalization of...
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Jan 1, 2013
01/13
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estate tax. 10 years ago we passed a bill that phase the out the estate tax. this bill basically brings it back with 40% tax rate but for those out there who have, you know, seniors and their family the exemption now level would be $5 million at the time of death. rick: the amt, alternative minimum tax, that really never been right because it affects more and more americans each and every year. >> right. rick: not americans who were intended to be targeted when this thing was put in place years ago but there is a permanent patch now to fix that. that has to be good news for a lot of folks? >> that is very good news. this is a tax if we hadn't fixed this, rick, we would have been talking about 26, 27 -- 27 million americans paying the alternative minimum tax. we have this debate every 15 years. rick: every year. >> we have to extend the alternative tax to make sure not to hit middle class families. we have permanent fix, indexes for inflation adjustments. i view that as very good news for the midd
estate tax. 10 years ago we passed a bill that phase the out the estate tax. this bill basically brings it back with 40% tax rate but for those out there who have, you know, seniors and their family the exemption now level would be $5 million at the time of death. rick: the amt, alternative minimum tax, that really never been right because it affects more and more americans each and every year. >> right. rick: not americans who were intended to be targeted when this thing was put in place...
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Dec 24, 2012
12/12
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CNNW
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he gets all this additional tax revenue for new programs. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> so, hey, merry christmas. our white house correspondent brianna keilar is traveling with the president in honolulu. brianna, are the white house and republicans even talking? >> reporter: no. they're not, carol. there's no substantive discussions going on between the white house and senate democrats and senate republicans and house republicans. and this is key because in order for the cliff to be averted, there will need to be something passed through congress in both the senate and the house that would require the work of both democrats and republicans. that is very much an issue as all attention now turns toward the senate, which will reconvene on thursday. a lot of focus there. that's where things are expected to start. right now the white house is still saying that they want a plan to avert tax hikes for folks making $25000 or less. it's sort of unlikely, it se
he gets all this additional tax revenue for new programs. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> so, hey, merry christmas. our white house correspondent brianna keilar is traveling with the president in honolulu. brianna, are the white house and republicans even talking? >> reporter: no. they're not, carol. there's no substantive discussions going on between the white house and senate democrats and...
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Jan 1, 2013
01/13
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, he got $3 worth of tax cuts for every $1 in tax hikes. the tax cuts never came. however -- and this is the ratio right now. as juliet mentioned. 4 # 2-1. $42 in new tax hikes to every dollar in spending cuts. a lot of conservatives do not like that. that is not a good deal to them. >> the house has not voted yet. this is going to be in their hands at this point. john boehner is like we've got to look at things. it's not going to happen overnight. >> it seems like a couple of weeks ago but it was about a week ago when the house of representatives voted on boehner's plan b which would have set the threshold at $1 million. now they're going to vote on it at $450,000. you've got to figure a lot of republicans aren't going to go along. >> what exactly happened? we're going to go over this in detail with chad who saw the play-by-play and was e-mailing us the play-by-play. mitch mcconnell called up -- bypassed senator reid who never got back to him on saturday and said can i speak to the vice president, joe biden? we're used to cutting deals tog
, he got $3 worth of tax cuts for every $1 in tax hikes. the tax cuts never came. however -- and this is the ratio right now. as juliet mentioned. 4 # 2-1. $42 in new tax hikes to every dollar in spending cuts. a lot of conservatives do not like that. that is not a good deal to them. >> the house has not voted yet. this is going to be in their hands at this point. john boehner is like we've got to look at things. it's not going to happen overnight. >> it seems like a couple of weeks...
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Dec 24, 2012
12/12
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e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his expectations for what can be accomplished some democrats said a grand bargain shouldn't be that hard to reach. >> we ought to take peeker boehner and the president's last offer and split the difference and it would be a package 2.6 trillion can couple that with 1.1 trillion and that would be close to four trillion needed to stabilize the debt and bring it down. >> the president and members was congress will ret
e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the...
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Dec 30, 2012
12/12
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FOXNEWSW
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you know, for extending the bush tax cuts, is it 250,000 and above, that you let the taxes go up, is it 400, 500,000, ultimately what it comes down to, harry reid says i can get enough votes from democrats to support this plan. >> and democrats say and republicans say that would be about the 1 percent-ers, so-called 1 percenters would hit that 400,000 a year maybe higher, up to 500,000, what revenue does this generate? we've been hearing about this for a long time. what does it actually generate? well, if we take about 12.4 days to run the federal government, that's the amount of money extra that the government would bring in to run the federal government. that's how much we spend in 12 days. so, all of this fighting back and forth, that's why so much is being said or lack of-- i guess i should say, lack of being said about cuts. and the real way we can grow this economy is cuts. get all of this out of control spending in place first. >> dave: right, and just the conversation alone that we're now having, the american people are the loser in this deal because none of this talk is abou
you know, for extending the bush tax cuts, is it 250,000 and above, that you let the taxes go up, is it 400, 500,000, ultimately what it comes down to, harry reid says i can get enough votes from democrats to support this plan. >> and democrats say and republicans say that would be about the 1 percent-ers, so-called 1 percenters would hit that 400,000 a year maybe higher, up to 500,000, what revenue does this generate? we've been hearing about this for a long time. what does it actually...
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Dec 31, 2012
12/12
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CSPAN2
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and i can report that we've reached an agreement on all of the tax -- the tax -- issues. we are very, very close, as the president just said. the most important piece, the piece that has to be done now, is preventing the tax hikes. the president said -- quote -- "for now, our most immediate priority is to stop taxes going up for middle-class families starting tomorrow." i agree. he suggested that action on the sequester is something we can continue to work on in the coming months. so i agree. let's pass the tax relief portion now, let's take what's been agreed to and get moving. let me say, this was not easy to get to. i mean, the vice president and i last spoke about -- yesterday about 12:45 this morning and then again at 6:30 this morning and then multiple times this morning. this has been clearly a -- a good-faith negotiation. we all want to protect taxpayers and we can get it done now. right now. so let me be clear, we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place
and i can report that we've reached an agreement on all of the tax -- the tax -- issues. we are very, very close, as the president just said. the most important piece, the piece that has to be done now, is preventing the tax hikes. the president said -- quote -- "for now, our most immediate priority is to stop taxes going up for middle-class families starting tomorrow." i agree. he suggested that action on the sequester is something we can continue to work on in the coming months. so...